Wells Fargo Correlations

EKGAX Fund  USD 36.18  0.36  0.99%   
The correlation of Wells Fargo is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Wells Fargo Correlation With Market

Very weak diversification

The correlation between Wells Fargo Global and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wells Fargo Global and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Wells Fargo Global. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.
For more information on how to buy Wells Mutual Fund please use our How to Invest in Wells Fargo guide.

Moving together with Wells Mutual Fund

  0.92WSCGX Small Pany GrowthPairCorr
  0.93WSCOX Wells Fargo AdvantagePairCorr
  0.93STAFX Wells Fargo LargePairCorr
  0.93STDFX Wells Fargo LargePairCorr
  0.92WSMCX Small Pany GrowthPairCorr
  0.92STOFX Wells Fargo LargePairCorr
  0.93STNFX Wells Fargo LargePairCorr
  0.93STSAX Wells Fargo MonPairCorr
  0.92SCNSX Wells Fargo MonPairCorr
  0.75SCTAX California Tax FreePairCorr
  0.78SCTCX California Tax FreePairCorr
  0.92SCSDX Wells Fargo MonPairCorr

Moving against Wells Mutual Fund

  0.55SADAX Wells Fargo UltraPairCorr
  0.54SADIX Wells Fargo UltraPairCorr
  0.38SSHIX Wells Fargo ShortPairCorr
  0.36WSGIX Wells Fargo ShortPairCorr
  0.39MNSGX Wells Fargo ShortPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Wells Mutual Fund performing well and Wells Fargo Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Wells Fargo's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.